NYLX, the nation's largest real-time database of mortgage programs and associated risk-based adjusters, rates and prices from local, regional and national lending institutions and the mortgage industry's leading provider of point-of-sale product eligibility and loan pricing technology systems, has announced the launch of the NYLX Exchange, the mortgage industry's only real-time information source on aggregated loan origination activity in the United States.
Updated every five minutes, the NYLX Exchange provides detailed timely market information resulting from billions of dollars worth of originations that pass through the NYLX system each day. Furthermore, the NYLX Exchange offers an information source for lenders, investors and originators along with competitive information on the exact products and investors that are generating activity.
"We are no longer just providing data, eligibility and loan pricing solutions," states Howard Conyack, founder and CEO of NYLX. "With the NYLX Exchange, we have created a vehicle that grants the lending and investor community access to information they need to remain competitive and adjust to market conditions. Prior to the NYLX Exchange, analysts had to rely on monthly or year-end reports, time-delayed information, and estimates of competitive information to adjust their business practices. Now, with the NYLX Exchange, users can quickly, easily and cost-effectively access critical competitive information almost instantaneously."
The NYLX Exchange gathers and evaluates NYLX members' aggregate activity, providing originators, lenders and secondary market professionals with easy- access, real-time insight into origination activity that includes analytical information such as daily market activity, the most active investors, the most active loan products, competitive intelligence and specific investor information. Users can even find out critical competitive information on how other companies and mortgage products are trading, and can compare volume and pricing information to determine their market standings and better position their companies and their products.
A listing of the most active NYLX investors and the most active products, along with their respective loan volumes and pricings, are all freely available to anyone who visits www.NYLX.com. Lenders and investors who require deeper analytical and competitive information can also purchase a wide array of timely market information from NYLX. "If investors wouldlike to know how they compete in price on a certain product with their peers, or who their competitors are among NYLX users, we can equip them with that information," explains Ed Kasa, Vice President of NYLX Investor Management. "The information we provide is very comprehensive."
The NYLX Exchange provides benchmark indices for volume activity segmented by mortgage loan purpose, documentation, and mortgage and loan type. These indices are monitored every five minutes to track true current industry movement. The NYLX Exchange includes graphical displays of the following indices:
- PRX Index, which relays the daily market sentiment. A value above 100 indicates that the market sentiment is weighted more toward purchase transactions while a value below 100 indicates weighting more toward refinancing.
- FRX Index, which relays the percentage of total volume on the NYLX that represents fixed-rate product type transactions.
- OCCX Index, which relays the percentage of total volume on the NYLX that represents primary residence transactions.
- DOCX Index, which relays the percentage of total volume on the NYLX that represents full documentation transactions.
- CGX Index, which relays the percentage of total volume on the NYLX that represents conforming and government transactions.
"Lenders and investors have never before had such easy access to this level of competitive information," adds Conyack. "We're filling the need for a much-needed source of real-time market data."
About NYLX
NYLX is the mortgage industry's leading provider of product eligibility and best execution pricing solutions and loan product and pricing information. NYLX is also the leading supplier of real-time market data for the mortgage industry. NYLX products, utilized by many of the mortgage industry's top brokers, lenders and investors, ensure mortgage professionals have the most advanced tools and accurate information available to address their data, eligibility and pricing needs while maximizing profitability on every loan. LoanDecisions, the company's flagship product, offers the most powerful, flexible and feature-rich product eligibility and loan pricing system available, while BrokerToolz is an all-in-one product and pricing system designed specifically for brokers. NYLX's LoanBook is the industry's only real-time and automated 'mark-to-market' pricing system designed for secondary managers to optimize pricing on loans sold to the secondary market. NYLX also hosts the NYLX Exchange, the industry's only source of timely competitive market information resulting from the billions of dollars worth of originations which flow through the NYLX system each day. -- NYLX
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